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Deka Biosciences breaks ground on new Germantown facility

Deka Biosciences announced Tuesday it is breaking ground on a 14,000-square-foot office and lab in Germantown that will house a research and development, process development and manufacturing facility to further develop its novel cytokine therapies. This will be the first facility to house a dual targeted cytokine development lab in the Washington/Maryland/Virginia region and the only company in the U.S. developing a therapeutic of its kind. The new headquarters will be located at 20380 Seneca Meadows Parkway. Deka anticipates the move to be completed in the first quarter of 2023. The facility acquisition, design and construction are in partnership with Minkoff Development, CBRE, and Facility Logix.

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Maryland sees an increase in VC dollars in Q2 despite a national decline

Maryland bucked a national trend in venture capital funding in the second quarter of 2022, recording an increase in the number of companies able to raise money even as the rest of the nation continued to struggle with the declining markets. Nationally, VC deals decreased massively from $341.5 billion in the first quarter of 2022 to $144.2 billion in the second quarter. Maryland trended in the opposite direction seeing a massive increase in VC funding this quarter compared to the beginning of the year.

Baltimore startup raises $3.5M as it prepares to seek FDA approval for new pneumonia test

A Baltimore medical company that aims to make it easier to diagnose a deadly type of pneumonia raised $3.5 million in an oversubscribed seed round. Pearl Diagnostics, led by Johns Hopkins University Professor Kieren Marr, plans to use the funding to focus on manufacturing, in preparation for the commercial launch of its urine antigen test for fungal pneumonia.

Center/West developer, residents strike agreement on disputed demolition

An ongoing feud between some West Baltimore residents and the New York company behind the $800 million Center/West development has ended with a peace accord. Top city officials announced on Monday an agreement for the planned redevelopment in the Poppleton community, a neighborhood that sits in the shadow of the University of Maryland BioPark. Some residents there have decried plans by the city to demolish two rowhouses under eminent domain as part of the retail and residential project by La Cite Development LLC.

Novavax’s Covid vaccine up for review by CDC advisory committee

Gaithersburg’s Novavax Inc. is on the cusp of rolling out its Covid-19 vaccine to the public. But first, a Centers for Disease Control and Prevention advisory panel must review the biotech’s protein-based vaccine. That’s on the calendar for Tuesday, less than a week after the Food and Drug Administration authorized the product for emergency use in the U.S.

Baltimore startup Delfi Diagnostics raises $225M with plans to change how lung cancer is diagnosed

Baltimore biotechnology startup Delfi Diagnostics has raised $225 million as it embarks on a 15,000-person trial for its early cancer detection technology. The oversubscribed Series B round was the second mega-deal of the year in Greater Baltimore. DFJ Growth led the round, with participation from local Baltimore institutions such as T. Rowe Price Associates, Brown Advisory, PTX Capital and Rock Springs CapitalNational institutions such as Eli Lilly and Co., Point 72, Menlo Ventures and others also participated.

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Banks offer tools, advice to help small businesses cope with inflation

Inflation has increased even more than expected. According to the U.S. Bureau of Labor Statistics, the consumer price index, which measures the cost of everyday goods and services, rose 9.1% in June over the same month last year. The increase is the sharpest since November 1981. Already weary after two years of COVID-19 lockdowns and restrictions, hiring difficulties, rising interest rates and supply chain snafus, small businesses now must deal with higher prices for goods and determine how much of the burden to pass on to their customers. “Like most changes to the economy, rising interest rates produce ripples that can impact business owners’ bottom lines,” said Chi Eze, vice president, small business banker manager for Bank of America in Owings Mills.

A century ago, Baltimore had a thriving sewing industry. This company is trying to revive the trade.

The pleasant hum of a sewing machine fills a busy workspace in Johnston Square, just off the corner of Greenmount Avenue and Preston Street. It’s an industrial sound that once reverberated all over this neighborhood when commercial sewing businesses thrived here and in other parts of the city. Jeremiah Jones and his wife, Cecilia Grimm, are on a mission to restore the sewing trade that is part of Baltimore’s working heritage. They founded SewLab USA, a teaching workshop for the fiber arts. They also manufacture specialty products.

Read More: Baltimore Sun
Workers are picking up extra jobs just to pay for gas and food

Albert Elliott has been fueling up his Kia Soul in increments of $15, $20 and $25 to make the 60-mile commute from Fayetteville, N.C., to an Amazon warehouse in Raleigh, where he makes $15.75 an hour. Lately, he doesn’t have enough cash to fill his tank the entire way. In June, gas prices had gotten so steep that Elliot took on a second job as a janitor at a community college, working an extra two days a week for $10 an hour. “Gas is just through the roof. Unless it’s payday, I put in all the money I have at the time, sometimes borrowing money from family and friends,” Elliott said.

Employers owe hourly workers for required park and rides, Md. high court says

Hourly workers must be paid for the time they spend waiting and being shuttled between a remote parking lot and the worksite if such transportation is required by their employer, Maryland’s top court unanimously ruled Wednesday. Compensation is owed under Maryland wage laws because the parking lot and shuttle bus essentially serve as the employers’ mandatory labor staging area, the Court of Appeals held in its 7-0 decision involving workers who helped build the MGM National Harbor resort and casino in Oxon Hill between 2015 and 2016.

 

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